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Norway's wealth fund rises in Q2, reiterates returns will drop

Tue, Aug 22, 2017 - 4:40 PM

[OSLO] Norway's sovereign wealth fund, the world's largest, reported returns of 2.6 per cent in the second quarter, beating its benchmark by 0.3 percentage points as equity markets surged, it said on Tuesday.

"The stock markets have performed particularly well so far this year," the fund's deputy chief executive Trond Grande said in a statement.

While the fund's return in the first half of 2017 amounted to a record 6.5 per cent, this was unlikely to be repeated in the future, he cautioned.

The fund invests the revenues of Norway's oil and gas production for future generations. It is now so large it amounts to two-and-half-times the size of the Norwegian economy.